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Monday, 7 Sep 2009
Forex Traders Flip-Flop between Risk Appetite and Aversion
The back and forth fluctuation between risk appetite and safe-haven flight continues unabated this week with analysts now expecting an appreciation of the USD in the short- to mid-term. Following the sharp drop in value at the end of trading last Friday, the greenback is anticipating mild bullishness throughout the week as outlook has worsened almost overnight.
Traders should keep an eye out for any major changes in USD pairs and crosses considering that a reversal may be in the making; it's only a matter of when. Last week's NFP report failed to return the market to its fundamentals and traders are sticking to the ebb and flow strategy which rises and falls with market optimism.
